The city, however, has been trying to change the stereotype as a producer of only low-end products. In recent years, it is pivoting to advanced manufacturing, with robotics as one of the future economic pillars.
The rise of China Inc in the realm of robotics is not just restricted to the category of industrial robotics.
Specifically, it will feature panel discussions on the role of robots in sectors including education, mining, agriculture, rehabilitation, metallurgy and machinery.
The businessman attributed part of the robot industry's brisk development over the past few years to policy support and market promotion.
Upon completion, the plant will introduce cutting-edge technologies such as cobot, mobile robot and digital twin.
This news came as China is wrestling with a series of obstacles to elevate the levels of automation within its medical facilities.
GGII predicted the segment, a niche but fast-growing category of industrial robots, to reap a sales of 31,500 units by the end of 2023, an increase of 2.27% over the previous year.
Shanghai, as a robot hub, occupies a central position in China's drive to move up the value chain in industrial robot, cobot and related applications.
Estun ascribed the spike in its performance to surging demand from downstream clients in manufacturing sectors such as 3C, auto parts, PV and lithium battery.
As China's efforts to supplant imports with homegrown technologies gather momentum, Efort is poised to consolidate its position in the domestic market.
Since Tesla gave a "very short" time frame for these suppliers to consider and respond to its proposal, many feared they would miss out on "orders to the tune of hundreds of millions of yuan" should they hesitate.
Nonetheless, the oversupply of industrial robots from manufacturers in China suggests a possible slowdown in the expansion of the industry in the second half of this year.
Trending posts in the last week
Prefecture-level city under Hangzhou earmarks US$700m to build ‘robot town’
Shandong maps out path to US$1.4b in drone industry output by 2025
Movers and shakers: Who raised funds in November 2023 and who are they?
Unmanned chopper builder FlightWin bags US$14m in Series B+ raise